Jet Bank: Credit Risk Foundation for Albania’s First Digital Bank
Adastra built the entire credit risk foundation for Albania’s first fully digital bank: hands-on, from scratch, with no historical data, and a roadmap designed to grow with the bank.
fully digital bank in Albania and a pioneer in the region
months credit risk foundation built from a blank page to production-ready
minutes estimated time from loan application to money in account
Challenge
Building a Lending Engine for a Bank That Had Never Made a Loan
In Albania, banking has always meant branch visits, paper forms, and days of waiting. Jet Bank came with a bold vision to replace all of that: a customer applies through an app, gets a decision in seconds, and has money in their account within roughly 20 minutes.
That experience only works with a robust credit risk engine underneath it. But there was no internal data to build from. As a brand-new bank, Jet Bank’s team had to design a modern system from scratch, tailored to the Albanian market.
A significant portion of the working population in Albania is self-employed, which limits what data is available and complicates the development of models and processes. Also, as a country actively pursuing EU accession, with negotiations targeting membership by around 2030 under Albania’s Digital Agenda 2022-2026, Jet Bank needed to be fully compliant from day one.
A functioning framework had to be in place from launch to:
- Make every lending decision digital and fast, to deliver on the digital-first customer promise
- Minimize fraud exposure, since digital lending without face-to-face interaction is a natural target for high-risk applications
- Ensure compliance with IFRS 9’s provisioning obligations
- Manage risk with a calibrated scorecard to ensure portfolio quality
Solution
Open for Business, Ready to Scale
Jet Bank launched on schedule, backed by a complete, implementation-ready credit risk framework. When fully deployed, the system is designed to deliver capabilities that most Albanian banks, which have been operating for decades, still lack.
- ~20 minutes from application to disbursement for approved loans without human interaction
- Instant credit decisions at any volume, from any channel
- IFRS 9 compliance in place before the first loan was booked
- Collections function designed and ready even before an account went overdue
- Analytics foundation and data roadmap in place so models improve as the portfolio grows
Jet Bank set out to prove that modern, responsible banking in Albania does not require a branch network, decades of legacy data, or years of preparation. With Adastra as a partner, the complete credit risk framework was designed, validated, and handed over in six months, built to last, and ready to scale.
Impact
Boosting Productivity and Decision-Making with Advanced Information Access
Adastra’s GenAI solution has revolutionized information access across ams OSRAM’s production plant, delivering substantial benefits. It has dramatically reduced the time employees spend searching for specific documents, directly translating into increased productivity and cost savings. Furthermore, quick access to essential information has improved decision-making processes, enabling more agile responses to production challenges. The feedback loop ensures the tool continuously improves based on real user interactions, driving high levels of employee satisfaction and engagement. This impact highlights ams OSRAM’s commitment to innovation and underscores the value of advanced technologies like GenAI in driving business success in today’s competitive landscape.
Key benefits of the solution are:
- Significant Time Savings
- Enhanced Efficiency
- Improved Decision Making
- Increased User Satisfaction and Engagement
